There are times in business and in life when it is time to simply start over. A new career, a new relationship, a new location—sometimes, it’s time for something new. This holds true in the world of personal branding, too. There are times when, for whatever reason, it is simply not worth continuing in the same direction. While this is a last resort, rebranding can be an exciting opportunity to completely revolutionize your business. Below are questions to help you determine whether it is time to rebrand:
1) Does your brand still differentiate you from the competition? The core purpose of branding is to separate yourself from the rest of your market. If your brand is no longer unique, it may be time to rebrand.
2) Has the market shifted away from your brand? Over time, consumer taste changes. Think back to the clothes you wore in the Eighties if you don’t believe me. The personal brand you created fifteen years ago may not have the same appeal to the marketplace that it once had. Be honest and ask yourself whether your brand still appeals to your target customers. If it’s hard for you to honestly answer the question, seek opinions from trusted friends or family members. If your brand no longer appeals to your customers, it is time to rebrand.
3) Does your brand represent the direction your business is growing? Your goals and plans for your business may have shifted dramatically since you began branding yourself. Where do you envision your business in five years? Ten years? Will your current brand still be a good representation of your business? If not, it’s probably time to rebrand yourself and your business.
4) Is your brand visually appealing compared to the competition? Your brand includes your logo, your company colors, your marketing materials, your photo, and plenty of other visual materials. Compare your branding materials to those of your competition. How do you stack up? If most of your competition has more appealing visuals, it is probably time to rebrand.
Rebranding yourself should be a last resort. Most of the time, I advise my clients to simply work changes into their current brand. But from time to time, it’s simply more efficient to start over with a blank slate. Do you need to rebrand?